The Bahamas are a breathtaking archipelago consisting of hundreds of islands. They have a tax regime that encourages investment and boasts world-class golf courses, spas, and shopping. You can buy a home in the Bahamas, or invest in a vacation rental. The real estate market is also diverse, with opportunities ranging from luxury homes to affordable condominiums. You can also purchase timeshares.
The Bahamas has a strong real estate market, so you’ll want to choose your property wisely. The Bahamas is a seller’s market, which means that most property owners want to take advantage of it. You may want to consider asking real estate bahamas yourself “what would someone pay for it?” It’s difficult to compare real estate prices in the Bahamas, but knowing the right price for your property will give you an advantage when selling.
A recent report showed that demand for residential property in the Bahamas was in decline before the outbreak of coronavirus. In fact, Engel & Volkers reported a 20% decline in residential property sales in 2019. In March 2020, the Bahamas government closed the island’s international borders to stop the spread of the disease. As a result, tourist arrivals fell by 14.7% year-over-year, while air travel declined by 10.5%. This decline is expected to continue into 2020.
The Bahamas has a tax-free economy, which makes the country an attractive place for investors and expatriates alike. Real estate in the Bahamas can be extremely diverse, with everything from single family homes to condos. Vacant land and rental properties can also be found here. You’ll be able to choose a home that best suits your needs. The Bahamas has an active expat community, which is what makes it such a desirable place for investors and vacationers.
Among the top foreign buyers are Americans, Canadians, and Europeans. The majority of homes are purchased by expatriates. The average price of an undeveloped property in the Bahamas is approximately $40,000. However, you’ll need a permit from the government to develop a property. If you plan to buy an undeveloped piece of land, you can find an agent on Spanish Wells and Long Island. In addition to selling and buying homes, Coldwell Banker Lightbourn Realty also has agents throughout the Bahamas.
If you are looking for a unique property in the Bahamas, you should consider Eleuthera. Its white sand beaches and rolling countryside attract the rich and famous to the island. Consequently, real estate prices in this region have soared in recent years. Those seeking a property in Eleuthera should contact Lightbourn Realty on the mainland and on the satellite cays. Its luxury properties have a wide variety and are ideal for anyone interested in a vacation retreat.